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You are here: Home / Archives for Venture Capital

Revv Secures $20 Million Funding

November 19, 2024 By CollisionWeek Editor

Revv announced it has secured over $20 million in funding in a round led by Left Lane Capital, with continued participation from Soma Capital, 1984, and Agalé Ventures, underscoring the industry’s confidence in Revv’s potential to transform auto repair services with artificial intelligence technology. Revv ADAS Plus and ADAS Mechanical products recently received SEMA Best […]

Filed Under: News Tagged With: Revv, Venture Capital

CrashBay Secures $1.25 Million Venture Capital Funding

April 3, 2024 By CollisionWeek Editor

CrashBay, the digital marketplace offering collision repair solutions for fleets and carriers, announced the successful completion of a $1.25 million funding round led by venture capital firm Markd, with participation from other collision and insurance industry veterans. The funding marks a pivotal milestone in CrashBay’s commitment to transforming the collision repair industry and reshaping direct […]

Filed Under: News Tagged With: CrashBay, Markd, Venture Capital

State Farm Ventures Invests in Snapsheet

July 18, 2023 By CollisionWeek Editor

Investment strengthens multi-year relationship between investment arm of largest U.S. private passenger auto insurer and claims technology firm. Snapsheet, the company specializing in claims management technology, today announced a strategic investment from State Farm Ventures, the wholly-owned subsidiary of State Farm Mutual Automobile Insurance Company launched in 2018. Snapsheet streamlines and expedites the claims process, […]

Filed Under: News Tagged With: Acquisitions, Claims Technology, Snapsheet, State Farm, Venture Capital

Tractable AI Raises $65M in Series E Funding

July 18, 2023 By CollisionWeek Editor

Tractable, the company employing artificial intelligence (AI) using computer vision to assess the condition of cars and homes, today announced a $65M Series E investment led by SoftBank Vision Fund 2. Existing investors Insight Partners and Georgian participated in the round. As part of the transaction, Nahoko Hoshino, Investment Director for SoftBank Investment Advisers will […]

Filed Under: News Tagged With: Acquisitions, Claims Technology, Tractable, Venture Capital

Erie Insurance Launches Venture Capital Fund

August 25, 2022 By CollisionWeek Editor

Erie Insurance today announced the establishment of Erie Strategic Ventures, a venture capital fund to support visionary entrepreneurs. The fund is part of the company’s commitment to supporting entrepreneurship and delivering innovative products, services and experiences to its customers and network of independent agents. Erie is the 13th largest private passenger auto insurer in the […]

Filed Under: News Tagged With: Agreements Signed, Erie Insurance, Venture Capital

UVeye Announces Strategic Collaboration with General Motors to Commercialize Vehicle Inspection Technology Globally

June 23, 2022 By CollisionWeek Editor

UVeye receives investment from GM’s capital venture arm. UVeye, a provider of advanced vehicle diagnostic systems, announced that it has received an investment from the capital venture arm of General Motors, GM Ventures, to help fund the development and commercialization of the company’s vehicle inspection technology. UVeye also has entered into a commercial agreement with […]

Filed Under: News Tagged With: Agreements Signed, General Motors, UVeye, Venture Capital

State Farm Doubles Venture Capital Effort

January 28, 2022 By CollisionWeek Editor

State Farm Ventures announced the expansion of its venture capital investment fund to $200 million, up from the initial commitment of $100 million in September 2018. The fund focuses on start-up companies that align with the strategic goals of State Farm, which include helping meet customers’ needs in more ways. “Throughout our 100-year history, continuous […]

Filed Under: News Tagged With: State Farm, Venture Capital

State Farm Ventures Among Investors in AI-Computer Vision Company

November 19, 2021 By CollisionWeek Editor

Nexar’s network of dash cameras collect more images that are being used to create a complete digital twin of U.S. roads. Nexar, an artificial intelligence (AI) computer vision company, announced the completion of a $53 million Series D funding round led by Qumra Capital with the participation of State Farm Ventures, Catalyst Investments, Banca Generali, […]

Filed Under: News Tagged With: Artificial Intelligence, State Farm, Venture Capital

Nationwide Invests in ADAS Validation Platform Provider Foretellix

September 1, 2021 By CollisionWeek Editor

Nationwide, the insurance and financial services company is making a venture capital investment in Foretellix, a platform provider automating the testing, verification, and validation for automated driving systems, both ADAS and AV, and ensuring safety. The investment is part of the Israel-based company’s Series B funding round and comes from Nationwide’s $350 million venture capital […]

Filed Under: News Tagged With: Advanced Driver Assistance Systems, Autonomous Vehicles, Nationwide, Venture Capital

Nationwide Expands Venture Capital Investment Fund to $350 Million

February 11, 2021 By CollisionWeek Editor

Nationwide announced it is expanding its venture capital investment fund to $350 million. The funding will be directed into high-growth potential insurance and financial services startups that directly advance Nationwide’s strategy and enable even greater customer value. To date, Nationwide’s venture capital team has invested in 25 companies and has helped facilitate 31 partnerships between […]

Filed Under: News Tagged With: Nationwide Insurance, Snapsheet, Venture Capital

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